Asian markets settled mostly lower on Thursday amid global economic growth concerns. Minutes from the Federal Reserve's latest meeting showed broad support among Fed members to raise interest rates by a cumulative 100 basis points over the next two meetings to cool surging inflation. Further, worries over surging inflation and prolonged Covid-19 curbs in China also adding pressure on market sentiments. Seoul shares declined marginally as South Korea’s central bank hiked interest rates for a second consecutive meeting to wrestle consumer inflation down from 13-year highs. However, Chinese shares gained in spite of downbeat remarks on the economic outlook by Premier Li Keqiang. Chinese Premier Li Keqiang said the nation’s economy is in some respects faring worse than in 2020 when the pandemic first emerged, urging efforts to reduce a soaring unemployment rate. Meanwhile, Indonesian market is closed for Ascension Day holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,123.11 | 15.65 | 0.50 |
Hang Seng | 20,116.20 | -55.07 | -0.27 |
Jakarta Composite | -- | -- | -- |
KLSE Composite | 1,541.15 | 5.59 | 0.36 |
Nikkei 225 | 26,604.84 | -72.96 | -0.27 |
Straits Times | 3,210.33 | 30.75 | 0.97 |
KOSPI Composite | 2,612.45 | -4.77 | -0.18 |
Taiwan Weighted | 15,968.83 | -135.20 | -0.84 |
